Manual time sheet and billing systems are well-known in the services industries as a way for service providers to record time spent on a work activity and thereafter be paid for the work. In a typical example, a contractor may submit to a potential client an estimate of the cost for a particular job in terms of time and materials. If the client reaches agreement with the contractor on the terms, the contractor's time can be recorded so that the client can review and approve the time spent by the contractor in performing the work. Typically, the contractor will write or type onto a timesheet the amount of time the contractor has worked over the course of the contract, usually on a per time unit basis (e.g., hours per day). Depending upon the length of the contract, the contractor might regularly submit aggregated time sheets covering a pre-determined period (e.g., one month) to the client for approval and payment. If the client approves the time spent by the contractor, the contractor can then draw up an invoice to provide to the client for payment.
While many variations to the above-described scenario exist, there are many common deficiencies inherent in the general procedures currently used to record and submit time sheets for approval and subsequent billing. For example, if a worker works extra hours on a given day or works on a holiday, overtime pay may be required. Additionally, if a worker's time entries are inaccurate, not signed, or not approved by the client, billing and payment for the work can be delayed. Further, if multiple projects are being coordinated by a general contractor, individual time sheets must be pooled for each project, and then each of the projects must be pooled in order for the contractor or a vendor representing the contractor to approve and submit a bill for payment.
Attempts at automating time sheet and billing systems to date have not met with widespread success. What is needed is an automated, integrated time sheet and billing system which can (1) incorporate client, timekeeper (e.g., contractor) and contract details, (2) receive, record and track individual time entries per timekeeper, (3) communicate time sheets to clients for approval in a client-desired format, and (4) upon approval, automatically generate invoices for submission to the client for payment. In addition to the above, what is needed is a customizable solution to time recording and billing that can accommodate multiple billing cycles, multiple languages, multiple currencies as well as local employment practices and regulations.